AUS
NZ
UK
CA
USA
IND
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Highlights
- ASX200 futures indicate a lower open.
- Global tariff tensions weigh on market sentiment.
- Major updates from companies including (ASX:WTC), (ASX:GMD), and (ASX:ORG).
The Australian sharemarket is expected to open lower on Monday, with ASX200 futures down 22 points or 0.35% as of 8:30 am AEST. The downbeat outlook comes despite a mild gain on Friday and is driven largely by renewed global trade concerns that have rattled investor sentiment.
Markets were particularly impacted after US President Donald Trump proposed steep tariffs of 50% on European Union imports and 25% on major smartphone makers, including Apple. These developments triggered declines on Wall Street, with the S&P 500 shedding 0.67% to 5,803, the Dow Jones down 0.61% to 41,603, and the Nasdaq slipping 1% to 18,737. Tech giants, particularly Apple, saw share price drops amid the tariff threats, while rising bond yields and fiscal deficit worries added to the pressure.
In the US tech space, Nvidia (NASDAQ:NVDA) revealed plans to commence production of its Blackwell AI chip for China by June. Meanwhile, Foxconn confirmed its US$1.5 billion Apple component plant in India would proceed. Apple also announced plans to roll out smart glasses with audio-visual features by late 2026.
Back home, investors will be closely watching updates from several ASX-listed companies. Origin Energy (ASX:ORG) raised its earnings guidance for FY25. Horizon Minerals (ASX:HRZ) announced an upsized $30 million capital raise. Wisetech Global (ASX:WTC) reported a significant $2.6 billion deal to acquire e2open, strengthening its global supply chain platform. In the gold sector, Genesis Minerals (ASX:GMD) will acquire the Laverton Gold Project from Focus Minerals for $250 million.
Meanwhile, uranium equities saw notable gains after Trump indicated plans to revitalise the US nuclear sector. The Global X Uranium ETF surged 11.6% on the news. This could bring indirect momentum to related ASX sectors, especially given increasing investor interest in ASX dividend stocks.
Commodity markets were active, with gold prices jumping 2.1% to US$3,365.80 per ounce as investors sought safety amid trade tensions. Weekly gains of 5.6% marked the metal’s strongest performance in six weeks. Copper rose 3.4%, while aluminium was slightly up at 0.3%. Iron ore dipped 0.1%, impacted by continued weakness in China’s property sector.
The Australian dollar rose 1.23% against the greenback, supported by USD weakness.
All eyes this week will be on domestic economic indicators, especially Wednesday’s release of the April Consumer Price Index. Markets anticipate a slight easing in inflation, which could influence sentiment across ASX200 constituents.
Additionally, companies like Elders (ASX:ELD), SmartPay Holdings (ASX:SMP), and Findi Ltd (ASX:FND) are set to release earnings today, potentially adding more movement to an already sensitive market.
